Income from house property
This query is : Resolved
17 November 2009
Hi Expert, if i have income to have let out my house... what is the deduction available under section 24 for the FY 2009-2010 ?
17 November 2009
Under section 24, following two deductions available-
(a) Standard deduction @30% of net annual value irrespective of any expenditure incurred by taxpayer
(b) Interest ( maximum Rs.1.5 lacs ) on capital borrowed for acquiring or constructing the house. If the capital borrowed is for repairs/renovation then the max ceiling is Rs.30000/- ( and not Rs.1.5 lacs)
CA Amitabh Gupta
Indore
09893276187
(a) Standard deduction @30% of net annual value irrespective of any expenditure incurred by taxpayer
(b) Interest ( maximum Rs.1.5 lacs ) on capital borrowed for acquiring or constructing the house. If the capital borrowed is for repairs/renovation then the max ceiling is Rs.30000/- ( and not Rs.1.5 lacs)
CA Amitabh Gupta
Indore
09893276187
17 November 2009
Thanks a lot Mr Gupta ji for your help...
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- REGARDING GST ON COMMERICIAL PROPERTY
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- GST on export of services and Input Credit
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- Capital gain consideration
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
